So, how do at this stage of development is organized pursuant to mutual financial obligations within the framework of international economic cooperation.

Fundamental principles of this system are the subjects, which represent the private, institutional and public education sovereigns.

Individuals – are physical persons, residents in the attitude of one or more of the state, and foreign nationals (non-residents) in relation to other.

Institutional Education – an association created to carry out joint activities and to achieve certain goals in the composition, which is composed of different reasons individuals, institutional, educational, public sovereigns.

A public entity – the state, public association with all the attributes to separate sovereign territory, the presence of which, in effect, and distinguishes it from modern institutional structures already so similar to the state, but it is located in one of the jurisdictions.

Operators, agents are specialized institutional education, acting in accordance with the laws of the jurisdiction and the presence of registration. The activities carried out under a special permit, license of the Central Bank of the sovereign public, which gives them the right to perform certain banking transactions in accordance with standard operating procedures, which registered the order of their conduct.

Under Part 2[34] of Art. 75 of the Constitution of the Russian Federation, as a significant public entity accounting relations, established by the Central Bank of Russia, so it is not “a natural product of banking development”[35]. Created by the will of the state and burdened with the primary function of protecting and sustaining the national currency. Detail its legal status is defined by the Federal Law “On Central Bank of Russian Federation (Bank of Russia)” № 86-FL[36].

In this world everything has its price, the price is set in the currency of a State, between actors in international economic cooperation is most often recorded in the contract price in the currency EURO or USD, in view of current practice. And she has developed through standard SDR, which is practically obsolete and is used by inertia, a multi-system formation is projected to include it as the Yen and possibly the Chinese Yuan, ruble considered as a candidate for this role, it is premature[37].

However, examining the individual operations, as a conclusion that it depends on the interests and understandings of the parties.

The legal basis for using the Russian ruble in international transactions is the Federal Law “On Currency Regulation and Currency Control” № 173-FL[38].

Even in the first edition of the law (October 1992) was declared that the foreign exchange operations with the Russian ruble current account balance of payments are made without any restrictions. This is possible already at the first stage of market reforms in Russia to ensure the growth of liquidity in the currency market of the Russian Federation and prevent the use of ruble in payments for foreign trade, primarily with the CIS countries. On June 1, 1996 pursuant to Decree of the President of Russia Russian Federation acceded to Article VIII of the Statute of the International Monetary Fund, which meant that the assumption of international obligations in support of the Russian currency convertibility on current account[39].

Based on these norms Russian commercial banks have the right to open correspondent accounts “Loro” in rubles for foreign banks with the ability to enroll in them proceeds from the sale of goods and services in Russia in favor of foreign companies – participants of foreign trade operations.

The currency, the money there and turned into cash and cashless. With regard to the activities of institutional actors have set limits, particularly in the Russian Federation has the following positions. “Payments in cash in the Russian Federation between entities and between legal person and a citizen engaged in entrepreneurial activities without forming a legal entity (hereinafter – the individual entrepreneur), between individual entrepreneurs associated with their business activities under one contract signed between these parties may be in an amount not exceeding 100 thousand rubles”[40]. Regarding the relations prevailing in the area of movement of goods across the customs border of the State of a reservation. “Customs fees paid in cash in accordance with Art. 331 of the Customs Code of the Russian Federation shall be exercised in accordance with Russian law, and not in accordance with the agreement concluded between certain parties. In this regard, when making these payments in cash rules Instructions № 1843-I does not apply[41] ”. This clause was the basis for creating a specialized banking product “custom maps”, “maps of foreign economic activity” referred to in different ways by individual lending institutions and[42], indeed, is a standardized (template) means of payment of customs payments on treasury bills of the Russian Federation.

Most of the complexity of the relationship are dispositive, folding, when equal entities shall cooperate on a voluntary mutual benefit, they are in the regulatory framework established by the ability to negotiate, to dialogue and reach a balanced conclusion as a result of negotiations.

So, consider the following situation. There is a subject which has the ability to provide goods or services, and the subject in need of this product or service, they know about each other, but still were in direct interaction and, consequently, the reputation of each other can only bring “outside help”.

Risks in collaboration missing, as Homer wrote “dangerous maneuvering between rocks”[43] is present on this side and on the other hand, reached an agreement on price, product, date, it remains to solve the issue of making payments, how to organize calculations for specificity has led to what we have deal with the goods.

Options to address the issue:

– due to the fact that the subject goods has wished to implement it, and found a potential buyer one of the most simple solution is to supply the goods and pay the agreed price by bank transfer to the buyer's account to the seller. With such an arrangement at once manifested payment risk, for various reasons, the same output will only further costly legal collection formed the debt;

– if the volume of supplies divided into parties and payments, respectively, and divided into tranches, we can carry out periodic monitoring of the implementation of mutual commitments and control each other spending estimates in the form of an open account. The buyer receives the shipment after receiving the proceeds from its sale, or receipt of funds from the use of the goods in neue Kombinationen takes payment and so on until the execution of mutual agreement in full;

– the concept of professional, expert testifies to the possession of the subject of theoretical knowledge and practical skills, that is, he goes in a certain area. In economic relations, the seller arranges for its own convenience, automation of the sales process “fork intermediaries” which communicates with the outside world and it is, except for access to a significant flow of external agents to myself. Because a network of dealers is selling goods to buyers. In this scheme of cooperation buyer may cast doubt on whether the goods from the seller and its insurance, risk minimization, may insist on payments in the form of a documentary collection, that is, the seller will carry the shipment of goods from the warehouse, to delivery to the conditioned space, and receive payment for goods in based on this fact confirming documents. Significant risk of the seller under this assumption is that the buyer may refuse to purchase.

The solution to minimize this risk, the author's opinion, may be costing and losses from the performance of obligations of the seller to the buyer. The buyer would have brought as a deposit (Art. 380, 381 of the Civil Code)[44]. Thus the buyer would affirm its intention to purchase goods and to “insure” against improper performance of an obligation to deliver the goods by the seller;

– if confidence in the uniqueness of its product and doubts about the solvency of the buyer, the seller is willing to provide warranty receipt of payment for goods and insisting on payment in the form of a letter of credit, so the buyer or their own, or borrowed money used to open letters of credit, what makes sure the seller and ships the goods, due to the Credit provides a package of documents to the bank and get cash, goods and the buyer.

Credit institutions (banks) involved in the calculations as operators (agents) are professional intermediaries in monetary engaged in banking operations, the remuneration for the performance of which is one of the articles of their income as “burdening the activity of a person obliges him to compensate for time spent and strength”[45].

To increase their competitiveness and attractiveness, credit institutions form a network of branches and representative offices, is one of the options for resolving the issue. Another is the result of the expression “do not have a hundred rubles, and a hundred friends” through the establishment of correspondent relations and opening of accounts Loro and Nostro lenders time keeping remains at the required volumes, can meet the customer need to transfer funds within the framework of international economic cooperation in light of its of interest. However, one should consider the risks of interbank loans, the level of which is usually lower than on loans to customers[46].

For the calculation of commercial banks – one of the main areas of activity[47]. Development of International Settlements is the ratio of static models taken from the overall dynamics of the use of tools and execution of financial obligations in the framework of international economic cooperation.

Payment method is a method of performance, and its choice depends on several factors caused, first of all the aspirations of the parties and their level of interaction. In mathematical science is the concept of “+” infinity and “-“ infinity, which are impossible to achieve the aspiration of a point. In organizing the settlement of relations among the parties such aspirations. At the same psychology of their actions is as follows.

The motive for the entry into the relationship and the cause of their activity is originated and unmet need. One side needs to be in the product or service, and another, being able to provide a service or product having wished to implement their own capacity for adequate compensation, and preferably in the form of “silver, which goes from the merchants”[48] accounting currency. Although depending on the arrangements and the needs of the parties in practice meets the set of combinations of forms of payment. However, the essence remains the same one of the parties expects the execution of financial obligations, and agrees to comply with it is different with the appropriate correspondence.

Credit institutions which are the operator’s money attract deposits and open accounts in which funds are placed individuals and entities. In this case the client's order imperative for the credit institution. As a form of customer orders is entitled to require the issuance of money in cash, or transfer an amount to another account, the account of another person in another credit institution. Thus, there will be transfer of money orders a person to the account holder and therefore, it would oblige him either to this amount, or will meet financial commitments in a given volume.

Cashless payments are made through lending institutions (branches) or the central banks of the accounts opened under the contract of bank account or a correspondent account contract (sub account).

Payment transactions to transfer money through credit institutions (branches) can be implemented using:

– correspondent accounts (subaccounts) opened at the Central Bank;

– correspondent accounts opened in other credit institutions;

– accounts of settlement participants that are open to non-bank credit organizations;

– accounts inter branch settlements open within the same credit institution.

Write-off of funds from the account shall be ordered by the owner or without an order of the account holder in cases prescribed by law or contract between the bank and the client.

Write-off of funds from the account on the basis of settlement documents, within available funds in the account. The order of registration, reception, processing of electronic payment instruments and payment transactions of their use is governed by separate regulations and concluded between the Central Bank of the State or credit institutions and their customer’s treaties governing the exchange of electronic documents with information security.

If insufficient funds in the account to meet all the requirements presented to him by debit as they arrive in the order established by law.

Restriction of the rights of the account holder to dispose of the on cash is not allowed, with certain exceptions.

As members of the calculations are considered payers and recipients of funds (the claimant), as well as serving their banks and correspondent banks. Modern bank is a competitive bank with a wide and flexible assortment not only of bank but other financial services adapted to the needs of different groups of clients[49], but banks do not intervene in contractual agreements yet, but only carry out the mandatory monitoring.

Competing claims on transactions between the payer and the recipient of funds, but through the fault of banks shall be determined in accordance with legislation without the participation of banks.

Banks carry out transactions on the accounts on the basis of settlement documents. Settlement document provides a designed as a document on paper or, in certain cases, an electronic payment instrument:

– the disposal of the payer, the client or the bank to write off the funds from your account and transfer them to the recipient of funds;

– the disposal of the payee (the creditor) to withdraw funds from the payer's account and transfer them to the account designated by the payee (recovered).

In the implementation of cashless payments, the following accounting documents:

– payment orders;

– letters of credit;

– checks;

– payment of claim;

– collection orders.

Settlement by payment orders

In the non-cash transactions are the predominant form of settlements by payment orders.

In calculating payment orders the bank undertakes on behalf of the payer at the expense of funds on his account, to transfer a sum of money to the account specified by the payer entity. Payment order is executed by the bank at the time provided by law, or in a short period of time established by the contract of bank account.

Money orders can be made:

– transfer of money for goods, works and services;

– transfer of funds in the budgets of all levels and extra-budgetary funds;

– transfer of funds in order to return / allocation of credits (loans) / deposits and interest thereon;

– transfer of funds for other purposes provided by law or contract.

In accordance with the terms of the basic contract payment instructions can be used for pre-payment for goods, works or services, or for periodic payments.

Payment orders are accepted by the bank, regardless of the availability of funds in the payer's account.

Calculations by check, a check is not only the settlement documents, but at the same time, security[50], containing an unconditional order to pay the drawer to the bank the check holder referred to in this paper amount. Check issuer is a person who has the money in the bank, which he is entitled to dispose of by check. Check holder – the person in whose favor the check is issued, the payer – the bank, which contains cash drawer.

When calculating check the account holder (issuer) gives a written order to the drawer bank that issued the settlement checks to pay a certain sum of money specified in the check, the payee (check holder). Checks are used both by individuals and legal entities, are tender and can be used in the calculations in all cases provided by law.

A check must contain the following:

– the name of “check” included in the text;

– instructed the drawer to pay a certain sum of money;

– name of the payer and an indication of the account from which payment must be made;

– indication of the currency of payment;

– an indication of the person, write a check – the drawer.

This is one of the forms of guaranteed payment as payment vouchers provided from a special deposit.

Calculations of credit and the implementation of payment transactions in the form of documentary letter of credit banks and their customers are guided by acting now edited Uniform Customs and Practice for Documentary Credits, developed and approved by the International Chamber of Commerce[51] and the Uniform Rules for bank-to-bank reimbursement under documentary letters of credit[52]. The word “credit” derives from the Latin “accredo”, meaning “trust”[53]. Letter of Credit is a double bond, taken by the bank on behalf of the payer to make payments to the recipient of the latter present’s documents that conform to the letter of credit, or give authority to another bank to make such payments. Banks can open the following types letter of credit:

– coated (deposited) and uncovered (guaranteed);

– revocable and irrevocable (can be confirmed).

Commitment in the form of a letter of credit issued by the bank by sending messages to the appropriate format system SWIFT, the system may be organized differently[54].

When you open a letter of credit covered by the issuing bank transfers at the expense of the payer or the loan amount given to him by letter of credit made available to the executing bank for the entire term of the credit, if the Credit stipulates otherwise, the letter of credit shall take effect upon its discovery[55].

When you open uncovered letters of credit issuing bank provides the executing bank the right to deduct money from his ongoing correspondent account in the amount of the credit limits. Procedure for debiting the correspondent account with the issuing bank on the guaranteed letter of credit is determined by agreement between the banks.

Revocable letter of credit is that can be modified or revoked by the issuing bank on the basis of a written order of the payer without the prior consent of the payee and without any obligation of the issuing bank to the payee after the revocation of the credit.

Irrevocable letter of credit, which can be revoked only with the consent of the payee. At the request of the issuing bank's nominated bank can confirm an irrevocable letter of credit. An irrevocable letter of credit confirmed by the executing bank, cannot be modified or revoked without the consent of the executing bank. The procedure for providing evidence of irrevocable confirmed letter of credit is determined by agreement between the banks.

The letter of credit is intended for calculations with a single recipient of funds.

The letter of credit may be provided on acceptance of the authorized payer entity.

Beneficiary may renounce the use of credit prior to its expiration, if the possibility of such refusal provided the letter of credit.

The procedure of payments by letter of credit is established in the main contract.

The order of payment is made by wire transfer by transferring the amount of the credit to the account of the payee. If the client refuses to order issuer promptly of acceptance and payment by letter of credit documents with discrepancies, immediately informed of the nominated bank by SWIFT about his refusal to accept the letter of credit documents with these differences and make them against payment, acceptance or negotiation. Negotiation with respect to the calculation of documentary letters of credit is treated as a purchase[56].

Notice of change of a letter of credit, or its withdrawal is sent via SWIFT using the same foreign bank, which advise the Credit, of course, to send payment message sand use other electronic means of communication, but Telex and SWIFT largely remain the key[57].

«Praemonitus praemunitus»[58], a role in the smooth functioning of the units of the bank in charge of international payments, is well-written and sung just as clearly the procedure of interaction with other parts of the bank. In particular, the implementation of documentary operations is important to know how to communicate with the unit responsible for taking over the bank credit risk[59].

Calculations based on the collection, operations with documents by banks on the basis of the instructions in the collection order[60]. Bank of vendor payee sends payment request to the payer's bank, the collecting bank.

Received by the payer's bank collection orders paid by purchasers only by way of preliminary acceptance.

If not received in a timely rejection of claims are deemed to accept and to be paid by payers.

All disagreements are resolved in the claim procedure.

If funds are available to the payer if the rejection is not entered, the employee signs a collecting bank claims on the day of maturity and transfers funds to the recipients.

In the complete absence of the remitter remitting bank sent a notice of lack of funds from the payer.